Mawson Completes Maiden Drilling at Skellefteå North Gold Project in Sweden
1305 – 1090 West Georgia Street, Vancouver, BC, V6E 3V7
Phone: +1 604 685 9316 / Fax: +1 604 683 1585
NEWS RELEASE October 11, 2022
Mawson Completes Maiden Drilling at Skellefteå North Gold Project in Sweden
Vancouver, Canada — Mawson Gold Limited (“Mawson”) or (the “Com pany”) (TSX:MAW) (Frankfurt:MXR)
(PINKSHEETS: MWSNF) announces completion of the maiden drilling program at the Skellefteå North Project in Sweden.
Six diamond drillholes were drilled for a total of 752.8 metres. The final four holes are reported here.
The maiden drill program at the Skellefteå Project focused on testing the proposed down-dip, and along-strike extension of
an outcropping and previous und rilled mineralized-dyke system. Gold is intimately related to the arsenopyrite-bearing,
sheeted-quartz-vein system hosted within the dyke, with gold occurring both within individual quartz veins, and outside of
veins within their wall-rock material that also contains similarly elevated arsenopyrite and silica/quartz mineralogy. Four of
six holes returned significant gold intercepts, identifying a high-grade gold-shoot which will be further explored in a future
drilling program.
Highlights:
Drilling has defined gold mineralization, which can develop at extremely high grades (up to 132g/t
Au), along 300 m of explored strike-length which remains open in all directions. The remaining four
diamond drillholes of the six hole program (DB2203-6) targeted the western strike-extension and are reported
here.
o All holes reported here intercepted the mafic-dyke host unit with highly-elevated arsenic values (> 400 ppm
As) drillholes.
o Better results from the final four holes reported here include drill holes DB2205 and DB2206 which
intersected 5.7 m @ 1.2 g/t Au from 81.9 m, and 1.2 m @ 0.6 g/t Au from 56.35 m, respectively.
Program highlights include visible gold observed in three of si x holes drilled at the Dalbacka
Prospect, with best results including:
o 1.8 m at 28.4 g/t Au from 82.8m in DB2202, including 0.35 m at 132 g/t Au (reported June 13, 2022)
o 4.4 m at 4.8 g/t Au from 40m in DB2201, including 0.38 m at 24.3 g/t (reported June 13, 2022)
The next steps to define targets for the Stage 2 drill program include 3D-modelling of the system to define high-
grade controls on gold mineralization, high resolution ground magnetics and surface geochemical sampling.
Mr. Fairhall, CEO, states: “The maiden drill program at Skellefteå has proven very high g rades (up to
132 g/t Au) can develop at the project and outlined a structurally controlled gold system now drill tested over
300 m, with gold at surface found within 1.8 km strike. With over 7 Moz Au having been produced from within
22 km of the project, we are excited to further test and extend the potential on this property. Exploration is
now ongoing to define high-grade controls on gold mineralization to define targets for a Stage 2 drill program.
In the meantime, Mawson remains focused on its exploration and PEA work programs at Rajapalot with the
PEA expected to be released in the coming weeks.”
The Dalbacka Prospect, is located in the south-central portion of the Skellefteå Project, in Northern Sweden (Figures 1 &
2), in which a 180 m long outcrop of a gold-mineralized mafic-d yke is found intruding a Proterozoic-aged, pyrrhotite-
bearing, graphitic black-shale succession. Gold-mineralization is found to be contained within arsenopyrite-bearing, sheeted-
quartz-vein system that is confined to within the limits of the steep, south-westerly dipping mafic-dyke system.
The maiden drill program at the Skellefteå Project focused on testing the proposed down-dip, and along-strike extension of
the mineralized-dyke system. Six drillholes for a total of 752.8 m were completed, designed to test the down-dip continuation
and possible westward extension of the outcropping mineralized- dyke. Visual observation of the mineralized intercepts
confirms the gold is intimately related to the arsenopyrite-bearing, sheeted-quartz-vein system hosted within the dyke, with
gold occurring both within individual quartz veins, and outside of veins within their wall-rock material that also contains
similarly elevated arsenopyrite and silica/quartz mineralogy.
Following on from initial success in drillholes DB2201 and DB2202 (1.8 m @ 28.4 g/t Au and 4.4 m @ 4.8 g/t Au, respectively
– results previously reported by Mawson June 13, 2022), the rem aining 4 diamond drillholes targeted the western strike-
extensions of the dyke-hosted sheeted-quartz-vein system that hosts the gold mineralization encountered at the Dalbacka
Prospect. While all remaining holes intercepted the mafic-dyke host unit, only holes DB2205 and DB2206 encountered gold
mineralization within the mafic-dyke host (5.7 m @ 1.15 g/t Au, and 1.15 m @ 0.56 g/t Au, respectively). However, highly-
elevated arsenic values (> 400 ppm As) were encountered in all target intervals in all drillholes indicating the larger gold-
associated mineralization system is present along the total 300 m o f e x p l o r e d s t r i k e - l e n g t h , a n d t h e r e f o r e , t h e A s - A u
mineralizing system remains active and open for further extension in all directions.
Holes DB2203 and DB2204 which did not return significant results have served to identify and define the adjacent higher-
grade shoot demonstrated in both surface channel sampling, and diamond drillholes DB2201 & DB2202. The geometry of
this high-grade shoot displays a shallow to moderate plunge to the east/south-east (see long-section, figure 3). Similarly,
drillhole DB005 is interpreted to have penetrated a potential sub-parallel shoot located eastwards of the primary high-grade
gold shoot (see long-section, figure 3). This geometrical control over gold-mineralisation coincides with the geometrical line
of intersection between the planes represented by the mafic-dyk e contacts, and the sub-parallel sheeted-quartz-vein
system, and as such, likely represents the control over gold-bearing quartz-vein development within the dyke unit (i.e., the
dilatational control required for the quartz-vein network to mineralize).
Next steps to define targets for the Stage 2 drill program incl ude 3D modelling of the system is ongoing to define high-
grade structural geological controls on gold mineralization, high resolution ground magnetics and surface geochemical soil
sampling to tie drill results together with other semi-regional gold prospects, including surface grab samples of 15g/t Au
6 km to the north of Dalbacka at Storberget, and 6 g/t Au located 1.8km due west of Dalbacka.
Skellefteå North
The Skelleftea North Gold Project consists of 2,500 ha of conti guous 100%-owned claims located in the well-endowed
Skellefte Mining District of Northern Sweden, located 40 km north-northwest of the city of Skellefteå (Figure 1) and 750 km
north of Stockholm, Sweden. The area has a long history of mini ng and strong economic ties to the industry. Over 7 Moz
Au has been extracted from mines within 22km of the project. There is abundant developed infrastructure including railway
and paved highways connecting to all of Sweden, as well as low cost hydropower and a skilled mining and forestry labor
force. The climate in this area of northern Sweden is moderated by the Gulf Stream and is very similar to Timmins, Ontario.
Mawson has the right to earn 85% of the project from Swedish pr ivate company Elemental Exploration Scandinavia AB
(“Elemental”). Further details on the Skellefteå North Project and Mawson’s Option Agreement can be found in Mawson’s
news release dated January 17, 2022.
Technical Background and Qualified Person
The Qualified Person, Michael Hudson, Executive Chairman of Maw son Gold, and a Fellow of the Australasian Institute of
Mining and Metallurgy, has reviewed and verified the technical contents of this release.
A single diamond drill rig owned and operated by Protek Norr AB is being used to execute the drill program. Core diameter
is NQ2 (50.7 mm). Core recoveries are excellent and average clo se to 100% in fresh rock. Geological logging,
photographing, and sampling of the drillcore is being completed by Elemental’s geological staff at their local facility near
Skellefteå. Sample intervals have been geologically determined with a minimum sampling width of 20cm. The remaining
half core is retained for verification and reference purposes. Analytical samples are transported by commercial transport
from site to the CRS Minlab Oy facility in Kempele, Finland. Samples were prepared and analyzed for gold using the PAL1000
technique which involves grinding the sample in steel pots with abrasive media in the presence of cyanide, followed by
measuring the gold in solution with flame AAS equipment. Sample s for multi-element analysis are pulped at CRS Minlab,
then transported by air to the MSA labs in Vancouver, Canada an d analyzed using four acid digest ICP-MS methods. The
QA/QC program of Mawson consists of the systematic insertion of certified standards of known gold content, duplicate
samples by quartering the core, and blanks the within interpret ed mineralized rock. In addition, CRS inserts blanks and
standards into the analytical process.
About Mawson Gold Limited (TSX:MAW, FRANKFURT:MXR, OTCPINK:MWSNF)
Mawson Gold Limited is an exploration and developmen t company. Mawson has distingui shed itself as a leading Nordic
Arctic exploration company with its 100% owned flagship Rajapal ot gold-cobalt project in Finland, and right to earn into
the Skellefteå North gold project in Sweden. Mawson also owns 60% of Southern Cross Gold Ltd (ASX:SXG) which in turn
owns three high-grade, historic epizonal goldfields covering 470 km2 in Victoria, Australia.
On behalf of the Board,
"Ivan Fairhall”
Ivan Fairhall, Director and CEO
Further Information
www.mawsongold.com
1305 – 1090 West Georgia St., Vancouver, BC, V6E 3V7
Mariana Bermudez (Canada), Corporate Secretary, +1 (604) 685 9316
Forward-Looking Statement
T h i s n e ws r e l e as e c o n t a i ns f o r w ar d - l o ok i n g s t a t e m e n t s o r f o r w a rd-looking information within the meaning of applicable securiti es laws (collectively,
"forward-looking statements"). All statements herein, other than statements of historical fact, are forward-looking statements. Although Mawson believes
that such statements are reasonable, it can give no assurance t hat such expectations will prove to be correct. Forward-looking statements are typically
identified by words such as: believe, expect, anticipate, intend, estimate, postulate, and similar expressions, or are those, which, by their nature, refer to
future events. Mawson cautions investors that any forward-looking statements are not guarantees of future results or performance, and that actual results
may differ materially from those in forward-looking statements as a result of various factors, including, but not limited to: capital and other costs varying
significantly from estimates; changes in world metal markets; changes in equity markets; ability to achieve goals; that the political environment in which
the Company operates will continue to support the development a nd operation of mining projects; the threat associated with out breaks of viruses and
infectious diseases, including the novel COVID-19 virus; risks related to negative publicity with respect to the Company or the mining industry in general;
reliance on a single asset; planned drill programs and results varying from expectations; unexpected geological conditions; lo cal community relations;
dealings with non-governmental organizations; delays in operations due to permit grants; environmental and safety risks; and other risks and uncertainties
d i s c l o s e d u n d e r t h e h e a d i n g " R i s k F a c t o r s " i n M a w s o n ' s m o s t r e cent Annual Information Form filed on www.sedar.com. While these f a c t o r s a n d
assumptions are considered reasonable by Mawson, in light of management’s experience and perception of current conditions and expected developments,
Mawson can give no assurance that such expectations will prove to be correct. Any forward-looking statement speaks only as of the date on which it is
made and, except as may be required by applicable securities la ws, Mawson disclaims any intent or obligation to update any for ward-looking statement,
whether as a result of new information, future events or results or otherwise.
Figure 1: Regional location of the Skellefteå North Project in Northern Sweden.
Figure 2: Location of the Dalbacka prospect in the southern points of the Skellefteå North Project
Figure 3: Geological long-section of drilling intercepts
Table 1: Drill collar summary table for drillholes reported in this announcement.
Hole_ID Hole Size Depth (m) Prospect
East North
Elevation Hole Azimuth Hole Dip
SWEREF99 SWEREF99
DB2203 NQ2 84.4 Dalbacka 769091 7219710 229 10 -45
DB2204 NQ2 149 Dalbacka 769102 7219689 226 0 -55
DB2205 NQ2 137.4 Dalbacka 769048 7219699 229 0 -45
DB2206 NQ2 149.6 Dalbacka 768970 7219752 229 10 -45
Table 2: All individual assays reported from DB2203 through DB2206 in this announcement. A lower gut-off of 0.2 g/t Au
was applied to reported assays, with no internal dilution factors applied. True widths are estimated to be between 70-
80% of drilled width.
Hole ID From (m) To (m) Width (m) Au (g/t)
DB2205 77.57 78 0.43 0.28
DB2205 81.9 82.52 0.62 1.64
DB2205 82.52 83 0.48 2.08
DB2205 83 83.62 0 0.24
DB2205 83.62 83.92 0.3 0.98
DB2205 83.92 84.9 0.98 0.23
DB2205 84.9 85.1 0.2 0.49
DB2205 85.1 85.5 0.4 0.59
DB2205 85.5 86 0.5 6
DB2205 86 86.7 0.7 0.66
DB2205 86.7 87.1 0.4 2.03
DB2205 87.1 87.6 0.5 0.37
DB2206 56.35 57 0.65 0.22
DB2206 57 57.5 0.5 0.93
DB2206 57.5 58 0.5 0.1
DB2206 58 58.5 0.5 0.02
DB2206 58.5 59 0.5 0.06
DB2206 59 59.5 0.5 0.26